FTX’s crypto mining venture is now used to advance AI

60-second summary

FTX’s defunct exchange repurposes its former crypto‑mining venture to support artificial‑intelligence projects, leveraging the 20% stake it bought in Genesis Digital Assets before filing for bankruptcy in November 2022. By redirecting mining hardware and infrastructure toward AI workloads, the firm aims to extract residual value, signaling a broader industry trend of converting idle mining assets into profitable compute services.